C-Suite Transitions – Interim CFO Grant Brown Appointed as Chief Financial Officer of Qorvo

Qorvo Inc. (QRVO)

Headquartered in Greensboro, North Carolina, Qorvo was created by the merger of TriQuint Semiconductor and RF Micro Devices. Qorvo is a semiconductor company, that designs, manufactures, and supplies radio-frequency systems for wireless, wired, and power markets internationally.

On August 3, 2022, Qorvo reported results for the fiscal 2023 first quarter ended July 2, 2022. According to the press release, on a GAAP basis, revenue for Qorvo’s fiscal 2023 first quarter was $1.04 billion, gross margin was 36.2%, operating income was $102 million and diluted earnings per share was $0.65.

Grant Brown, who was the interim chief financial officer of Qorvo at the time of the announcement, said, “Qorvo’s September quarterly guidance reflects incremental weakness in the broader smartphone market and relative strength in other end markets including defense and power. Looking forward, we will continue to drive productivity, and we are taking steps to improve our inventory position, including reducing factory utilization. We remain well-positioned for growth and expect to generate strong free cash flow in FY23.”

On August 29, 2022, Grant Brown was appointed as Chief Financial Officer of Qorvo, after having served as the Interim Chief Financial Officer for four months, since April 18, 2022 and as the company’s Vice President of Treasury since October 2018.

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